Beer Market

Market Synopsis:

Global Beer Market is valued at USD 768.55 Billion in the year 2022 and is forecast to reach a value of USD 996.49 Billion by the year 2030. The Global Market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 3.30% over the forecast period.

The Beer Market is witnessing growth and will continue to grow in the coming years owing to the rise in disposable income, increasing number of craft breweries, changing consumer preferences, and the emergence of strong and flavorful beers. The increasing number of social drinkers is expected to increase the demand for Beer during the forecast period.

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Additionally, the low alcohol Beer and alcohol-free Beer have gained popularity among youngsters trying to make the choice of a positive lifestyle and manage their intake of alcohol which are fueling the Beer Market growth during the forecast period. Furthermore, the Beer manufacturing companies are launching several new brands and products in order to expand their consumer base during the forecast period. In addition, the increasing influence of social media, growth of the e-commerce sector, and rising internet penetration has authorized manufacturers of Beer to prepare advanced retail channels which are expected to boost the growth of the Beer Market in the coming future. Moreover, consumers are always looking for new flavors in Beer in order to explore their taste for Beer which is increasing the demand for Beer in coming years.

Furthermore, the trend of consuming local Beer is responsible for the increase in the number of breweries and this is projected to boost the growth of the Beer Market during the forecast period. Besides, Beer is widely produced and consumed, and also traded alcohol around the globe due to which the young population is attracted to Beer at a high rate which is hampering the Beer Market growth during the forecast period.

Market Segmentation:

The Beer Market is segmented on the basis of type, category, packaging, and production. Based on type, the market is segmented as Lager, Ale, Stout & Porter, Malt, and others. Based on category, the market is segmented as Popular-Priced, Premium, Super, and Premium. Based on packaging, the market is segmented as Glass, Bottle, Can, and others. Based on production, the market is segmented into Macro breweries, Microbrewery Craft breweries, and others.

Based on Type

The larger segment is predicted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The growth of the larger segment is attributed to the novel brewing process which offers crisp and refreshing appeal to the consumers and is the most popular Beer throughout the world. The rising trend of the premium sized Beer among consumers has led to the increasing consumption of premium lager in the Beer Market during the forecast period.

Based on Packaging

The glass bottle segment is anticipated to hold the largest share of the Beer Market during the forecast period. The growth of this segment is attributed to the low processing cost. The observation of the Beer manufacturers says that the beer-drinking experience with the glass bottle gives the consumers more premium appeal when compared with can beer. Whereas, glass is reusable, reliable, sustainable, and 100% recyclable which is expected to drive the growth of the glass bottle segment in coming years.

Europe is Predicted to Acquire the Largest Share of the Market

Europe holds the largest share of the Beer Market during the forecast period. The European country is one of the main beer-producing regions globally. Moreover, Beer plays an important role in all European countries and is also an integral part of the culture, nutrition, and heritage which is driving the growth of the Beer Market during the forecast period. European industry is a diverse industry and is made of small and medium-size companies involving microbreweries and breweries operating at general, local, and regional levels with the major European breweries that are leaders all over the world which is fueling the growth of the Beer Market in the years to come.

The Asia Pacific is Valued to be the Fastest-Growing Region During the Forecast Period

Asia Pacific region is anticipated to be the fastest-growing region during the forecast period. The Asia Pacific has massive potential for the manufacturers of Beer and its production universally. This region is led by the emerging countries like China, Australia, and India which is driving the growth of the Beer Market during the forecast period. The premium alcoholic appeal and the refreshing flavor profiles are the several factors for the adoption of Beer in the busy schedule which is driving the growth of the market during the forecast period.